Enterprise IoT: Unlocking 36x the Value of the Current Internet

The Internet of Things (IoT) has been the subject of extensive discussion, reshaping innovation cycles across industries, yet its true impact remains a question.

“One of the things that we should grasp about the IoT is that we are currently in that stage when technology gets incredibly hyped,” says Jason Collins, Vice President of IoT Marketing at Nokia.

Collins likens the hype to the early days of the internet, when static pages and hyperlinks did not yet unlock the web’s full potential and the boom and bust of web‑based businesses was a familiar cycle. Still, the infrastructure that emerged—what we now call the Internet—has become indispensable.

“So the internet turned out to be kind of a big deal,” says Collins, before turning to how we can quantify the Internet of Things.

Keeping that outcome in mind, what is the potential size of the Internet of Things and how do we value it?

Valuing the Internet is challenging. Today we connect billions of devices through computers and smartphones, but the true value extends far beyond mere connectivity.

“Our Bell Labs team analyzed the data and determined that the IoT could be worth 36 × the value of today’s Internet,” Collins says. “That potential hinges on the number of connected devices and how users perceive and experience IoT applications.

If we consider that scale, it’s clear we’re only at the beginning of a transformation that will reshape digital strategy and business growth for decades to come.

How can enterprises leverage this growth opportunity?

Before the advent of machine‑to‑machine connectivity, businesses focused on product development, service delivery, and sales. IoT now adds a crucial layer: the torrent of data generated by connected devices, which can unlock new insights and efficiencies.

“While this connected world offers a vast data pool, extracting value is not straightforward,” says Marc Jadoul, Market Development Director for IoT at Nokia.

Jadoul compares the shift to moving from analog to digital. Machines and networks learn from data, and the IoT emerges as a “connective tissue” or a global nervous system that supplies context and meaning— the first step toward real value extraction.

Building on that, the IoT can become an innovation platform, much like how Google revolutionized search, Uber disrupted transportation, and Airbnb redefined lodging. Connectivity and data empower new business models across sectors such as connected cars, digital healthcare, and smart homes, with big data and emerging services fueling growth.

Wireless sensor networks are evolving into analytics‑enabled applications, making the IoT a richer experience than current M2M solutions.

Digital transformation must go beyond platforms, data, and siloed apps. It demands a cultural shift and new mindsets to unlock significant benefits.

Who’s leading the growth within an enterprise?

Early IoT innovations were driven by internal cost‑saving and process‑optimization initiatives—often referred to as command and control or Industry 4.0. The emerging Enterprise IoT approach now focuses on product and service innovation, and on uncovering new revenue streams. Consequently, early adopters are not limited to IT; product managers and customer‑facing teams are championing the technology to enhance experience and drive growth.

“The sooner companies view IoT as a growth catalyst rather than just a cost‑cutting tool, the faster it will take root in enterprises,” says Jadoul.

Where is IoT headed?

As connected technology matures and mindsets shift, IoT will generate new value for all stakeholders.

“Companies need to solve business problems and think beyond vertical, point applications,” says Lee L’Esperance, Business Modeling Principal at Nokia. “A siloed, verticalized approach limits value. Seeing IoT’s benefits across products, services, and business groups unlocks true potential.”

IoT’s impact depends on architecture that creates connective tissue rather than isolated links. Crafting the right business models and identifying sweet spots for value, growth, and ROI is essential—and will be explored in our next article.

This article was produced in partnership with Nokia.